Morph Chain Adopts Bitget Token as Native Token; BGB Jumps 10%

Bitget has announced a landmark decision that shifts its ecosystem in a new direction. The exchange confirmed that its native token, BGB, will become the gas and governance token of Morph Chain, a Layer 2 focused on payments and onchain consumer finance. This action has already caused a rise in BGB price by over 10%, showing how the market already feels about the development.

Bitget Transfers 440M BGB to Morph, Intends to Burn $1B BGB Tokens

As part of the transition, Bitget will transfer 440 million BGB tokens to the Morph Foundation. According to a press release, half of these tokens, worth about $1 billion, will be permanently burned, cutting total supply and strengthening scarcity.

The remaining 220 million tokens will be locked and gradually released over 50 months. This allocation will fund liquidity, new use cases, and ecosystem growth.

The adoption means BGB is no longer confined to Bitget’s centralized exchange. It now spans decentralized exchanges, Morph’s settlement layer, and consumer payment infrastructure. Bitget’s half a trillion derivatives trading volume every month further underlines its ability to drive large-scale integration across Web3.

Also, Morph will serve as the onchain home for BGB, positioning the token at the core of a settlement network designed for over 120 million users. Bitget and Bitget Wallet’s existing infrastructure will also integrate directly into Morph, consolidating payments, trading, and ecosystem services.

BGB will now power payments, applications, and governance on Morph. In addition to being the governance token for the network, BGB will be its transaction fee.

Alongside stablecoins, it will handle settlement and PayFi activity. The Morph Foundation will manage its long-term development and burn mechanisms, with a target of reducing supply until it reaches 100 million tokens.

Industry Leaders Weigh In

Gracy Chen, CEO of Bitget, called this transition a new chapter for BGB, saying it expands the token into a utility asset for the next era of onchain consumer finance. Morph chief executive officer Colin Goltra noted that such a move makes Morph the onchain home of BGB. Furthermore, it is a significant step towards creating a tier-one global ecosystem. Both leaders stressed that the collaboration balances size and vision by allowing BGB to be the focal point of Web3 payments.

The news from the top crypto exchange has had an immediate impact on BGB’s market price. Data from TradingView shows BGB rising sharply to $5.06, up 8.66% in the past 24 hours.

The token surged past $5.30 before retracing slightly, but it remains well above its previous close of $4.65. BGB increased by 13% in the past week and by over 19% in the past one month. The trading momentum is indicative of increased confidence that the use of BGB in the Morph ecosystem will boost use and adoption for many years to come.